Bitcoin mining firm Bitfarms has accomplished its withdrawal from Latin America by promoting its closing mining facility in Paraguay for as much as $30 million.
The corporate introduced on January 2, 2026, that it signed a definitive agreement to promote its 70-megawatt Paso Pe web site to Sympatheia Energy Fund, a crypto infrastructure fund managed by Singapore-based Hawksburn Capital.
This sale marks the tip of Bitfarms’ operations in Latin America and shifts the corporate’s whole power portfolio to North America. The transfer represents a serious strategic change as Bitfarms pivots away from conventional Bitcoin mining towards high-performance computing and synthetic intelligence infrastructure.
Deal Construction and Timeline
Below the phrases of the settlement, Bitfarms will obtain $9 million in money when the deal closes, anticipated within the first quarter of 2026. This upfront fee features a $1 million non-refundable deposit already paid by the client. The corporate can obtain as much as $21 million extra over the next 10 months, relying on whether or not sure fee milestones are met.
The transaction ought to shut inside 60 days of the announcement, topic to plain closing circumstances. Bitfarms CEO Ben Gagnon defined that this deal “brings ahead an estimated two to a few years of anticipated free money flows from operations to be reinvested into our North American HPC/AI power infrastructure in 2026.”
Supply: globenewswire
The customer, Sympatheia Energy Fund, plans to take care of operations on the Paso Pe web site. SPF consultant Josh Murchie said the fund’s precedence is guaranteeing “an uninterrupted, seamless transition from day one” whereas sustaining continuity on the facility.
Finishing the Latin America Exit
The Paso Pe sale is the ultimate step in Bitfarms’ deliberate withdrawal from Latin America. Earlier in 2025, the corporate started this course of by promoting its largest Paraguay facility.
In January 2025, Bitfarms announced plans to promote its 200-megawatt Yguazu web site to HIVE Digital Applied sciences for roughly $85 million. That transaction closed in March 2025, considerably decreasing the corporate’s Latin American footprint.
Lower than two years in the past, Bitfarms had highlighted Paraguay as a key development market, saying land purchases and energy agreements tied to low-cost hydroelectric power. The entire reversal exhibits how rapidly the corporate’s technique has modified because it repositions itself for what administration sees as higher alternatives in North America.
North American Vitality Portfolio
With the Paraguay sale full, Bitfarms now operates a 100% North American power portfolio. The corporate at present has:
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341 megawatts of energized capability already working
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430 megawatts underneath energetic growth, totally in the USA
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A 2.1-gigawatt multi-year pipeline throughout North America, with roughly 90% positioned within the U.S.
This geographic focus permits Bitfarms to focus its administration consideration and capital on a single area. The corporate believes North American energy and infrastructure will generate stronger returns than its earlier worldwide operations.
The Shift to AI and Computing
Bitfarms is making a elementary enterprise change past simply geographic consolidation. The corporate plans to wind down its Bitcoin mining operations throughout 2026 and 2027, transitioning absolutely to high-performance computing and AI infrastructure.
In November 2025, Bitfarms announced plans to transform its 18-megawatt Washington State facility to assist HPC and AI workloads. The corporate signed a $128 million absolutely funded settlement with a big American information heart infrastructure supplier to provide all important IT tools and constructing supplies.
The Washington web site might be redesigned to assist Nvidia GB300 GPUs with superior liquid cooling expertise. Building targets completion by December 2026. The power will ship as much as 190 kilowatts per rack with an anticipated Energy Utilization Effectiveness ratio between 1.2 and 1.3, which might be among the many most effective within the business.
CEO Gagnon famous that regardless of representing “lower than 1% of our complete developable portfolio,” the Washington conversion “may doubtlessly produce extra internet working earnings than now we have ever generated with Bitcoin mining.” This dramatic declare underscores why the corporate is making such a big strategic shift.
Business Developments and Market Response
Bitfarms is a part of a broader development within the Bitcoin mining business. Following the 2024 Bitcoin halving occasion, which lower mining rewards in half, many mining corporations have struggled with compressed revenue margins.
Mining companies are more and more repositioning themselves as power and digital infrastructure corporations. Their current property—energy buy agreements and information heart infrastructure—can assist each cryptocurrency mining and AI computing wants. Nevertheless, the AI and HPC sectors at present supply extra steady and doubtlessly higher-margin income alternatives.
Buyers responded positively to the Paso Pe sale announcement. Bitfarms shares rose over 11% following the information, buying and selling round $2.61 and including roughly $155 million to the corporate’s market worth. The inventory motion suggests buyers assist the strategic pivot towards North American AI infrastructure.
The Highway Forward
Bitfarms now faces the problem of executing its bold transformation. The corporate has said it’s going to use proceeds from the Latin American asset gross sales to fund its U.S. development pipeline and HPC/AI infrastructure growth.
With almost $1 billion in accessible liquidity from money, unused credit score services, and Bitcoin holdings, Bitfarms has important monetary assets for this transition. The corporate is evaluating a number of monetization methods, together with colocation providers and GPU-as-a-Service cloud choices.
As Bitfarms closes the guide on its Latin American operations, the corporate is betting its future totally on North American energy infrastructure and the rising demand for AI computing capability. Whether or not this gamble pays off will grow to be clearer as 2026 progresses and the corporate’s first main HPC conversion initiatives come on-line.
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